JPMorgan Is Souring on NIO Stock

Nio (NYSE:NIO) stock is a hot topic among traders on Friday as they react to JPMorgan hitting the electric vehicle (EV) company’s shares with a downgrade.The downgrade for NIO stock has JPMorgan’s analysts dropping the shares from a “neutral” rating to an “underperform” rating. That is below the analysts’ consensus rating of hold based on nine opinions.That downgrade also has the firm cutting its price target for NIO stock from $8.50 per share to $5 per share. That’s a potential 14.5% drop from its prior cl ...